Home budget for 5 persons using pie chart
Answers
HOUSING is anything to do with SHELTER = 35%
Rent
Mortgage
Utilities (Water, Gas, Heat, Electricity)
Rent Insurance
House Insurance
Home Maintenance (not buying furniture, actual home repairs)
Condo Fees
LIFE is pretty much everything else = 25%
Groceries
Cellphone
Telephone
Television
Internet
Eating Out
Pet Stuff
Furniture for the home
Home renovations and maintenance
Medical needs (medicine or doctor/dentist visits)
Clothing
Toiletries
Makeup
Gifts
Entertainment
Bank Fees
Holiday Spending
TRANSPORTATION is how you get to where you’re going = 15%
Public transportation
Gas
Maintenance for the car
Car insurance
Driver’s License/Vehicle Registration Fees
Parking costs
Parking Tickets (you better not get any…!)
DEBT REPAYMENT means: Money you are using to clear your debt = 15%
Pay down your debt with the the highest interest rate
…then take that money after that debt is gone, and pay extra on the next debt
…all the way until you are debt free!
SAVINGS means: Money you don’t touch on a daily basis! = 10%
Retirement savings
Emergency funds
Short-Term savings like a Travel Fund
Investing
Home Maintenance Fund (should be 3% of your home’s gross value in an account)
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